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Wednesday, October 8, 2008

Govt will act if required: FM

NEW DELHI: Finance Minister P Chidambaram said inflation control is still high priority for the government but added that the stability of the financial system is equally important.

"We will watch the situation carefully and respond swiftly to the needs of the market and take adequate steps to infuse more liquidity, if needed," Chidambaram said.

Chidambaram also read out a statement on behalf of the cabinet assuring the people that all steps will be taken to protect the economy from the global financial crisis.

"The rupee has depreciated due to many factors; will find its own value," he added.

He also added that the government will watch the financial situation carefully and
continuously, and steps will be taken to infuse liquidity swiftly if required.

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